North Atlantic Resources Ltd.
TSX : NAC

North Atlantic Resources Ltd.

August 01, 2006 11:21 ET

North Atlantic Resources Ltd.: Additional Delineation Drilling Results from the FT Gold Project, Republic Of Mali

TORONTO, ONTARIO--(CCNMatthews - Aug. 1, 2006) - Dr. Jon North, President and CEO of North Atlantic Resources Ltd. ("the Company")(TSX:NAC) reports:

The FT gold project comprises over 600 square kilometers of mineral rights in southern Mali, 100 kilometers southwest of the 10 million ounce Morila gold deposit (Randgold-AngloGold) and 50 kilometers south of the Company's Massala gold project where a discovery hole grading 3.26 grams per tonne gold over 12 meters was announced by the Company on July 4, 2006.

This press release describes the results of an additional 3,566 meters of diamond drilling (13 holes), and 288 meters of reverse circulation drilling (2 holes). This work is part of ongoing delineation drilling at the FT project. These drill holes form part of a database of drill holes that will be used for the initial gold resource estimate of the FT gold zone. SRK Consulting is completing the initial NI 43-101 standard report on the FT gold project.

The drill holes are illustrated on the attached maps and sections and the results from the drill holes are reported in the following tables. Diamond drill holes are denoted DDH and reverse circulation holes are denoted RC. The mineralized zone is subdivided into two segments, Foulalaba in the south, and Tiekoumala in the north. In general, the longest intersection and its composite grade are reported on the sections and the longest composite assay as well as selected high grade intervals are reported in the tables. Drill holes with visible gold are highlighted in yellow. The composite assays represent the length of the drilled intersection and not necessarily the true width.

Visible gold grains were noted in the following holes at the following depths:



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Hole number Meters down hole
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06TKDDH-31 119 m
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06TKDDH-34 162.2 m, 150.9 m, 150.2 m
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06TKDDH-35 71.5 m
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06TKDDH-37 227.3 m
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06TKDDH-36 83.1 m
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06TKDDH-38 173 m
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06TKDDH-40 223.8 m, 236 m
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06FLDDH-01 116.3 m
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06FLDDH-02 76.7 m
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06FLDDH-03 123.1 m
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06FLDDH-08 95.4 m, 102.25 m
------------------------------------------




TIEKOUMALA SEGMENT
-------------------------------------------------------------------
Section Section Drill hole Total From To Width Grams per
(N) (E) length (m) (m) (m) tonne
(m) gold
(g/t Au)
-------------------------------------------------------------------
10349 4502 06-TKDDH-31 324.4 6 21 15 0.91
-------------------------------------------------------------------
including 6 8 2 2.79
-------------------------------------------------------------------
88 134 46 1.39
-------------------------------------------------------------------
including 94 103 9 2.02
-------------------------------------------------------------------
and 116 127 11 2.37
-------------------------------------------------------------------
10547 4432 06-TKDDH-34 362.5 23 25 2 1.60
-------------------------------------------------------------------
68 77 9 0.78
-------------------------------------------------------------------
147 166 19 1.34
-------------------------------------------------------------------
including 150 152 2 4.63
-------------------------------------------------------------------
10346 4353 06-TKDDH-30 401 NSV
-------------------------------------------------------------------
10600 4400 06-TKDDH-35 233 41 56 15 1.12
-------------------------------------------------------------------
71 95 24 0.91
-------------------------------------------------------------------
including 71 81 10 1.61
-------------------------------------------------------------------
10454 4399 06-TKDDH-37 258.5 171 196 25 0.79
-------------------------------------------------------------------
including 186 196 10 1.36
-------------------------------------------------------------------
10502 4452 06-TKDDH-36 248.6 80 105 25 0.94
-------------------------------------------------------------------
including 80 92 12 1.35
-------------------------------------------------------------------
212 213 1 7.76
-------------------------------------------------------------------
10454 4447 06-TKDDH-38 276.5 74 105 31 0.93
-------------------------------------------------------------------
including 83 88 5 2.00
-------------------------------------------------------------------
and 98 102 4 1.85
-------------------------------------------------------------------
161 176 15 0.97
-------------------------------------------------------------------
10254 4514 06-TKDDH-40 318.5 86 89 3 2.81
-------------------------------------------------------------------
198 261 63 1.09
-------------------------------------------------------------------
including 214 238 24 1.83
-------------------------------------------------------------------
including 231 238 7 3.46
-------------------------------------------------------------------
10450 4500 06-TKDDH-39 296.8 19 65 46 0.42
-------------------------------------------------------------------
including 44 65 21 0.65
-------------------------------------------------------------------
169 186 17 0.69
-------------------------------------------------------------------
211 225 14 1.17
-------------------------------------------------------------------
including 220 225 5 2.12
-------------------------------------------------------------------
10753 4416 06-TKMRC-06 150 NSV
-------------------------------------------------------------------
10734 4305 06-TKMRC-07 138 18 70 52 0.70
-------------------------------------------------------------------
including 48 70 22 1.08
-------------------------------------------------------------------




FOULALABA SEGMENT
-------------------------------------------------------------------
Section Section Drill hole Total From To Width Grams per
(N) (E) length (m) (m) (m) tonne gold
(m) (g/t Au)
-------------------------------------------------------------------
9555 4867 06-FLDDH-01 182.7 63 119 56 0.58
-------------------------------------------------------------------
including 108 119 11 2.23
-------------------------------------------------------------------
including 116 117 1 21.2
-------------------------------------------------------------------
132 145 13 0.82
-------------------------------------------------------------------
9400 4860 06-FLDDH-02 181 65 81 16 1.33
-------------------------------------------------------------------
including 76 80 4 2.41
-------------------------------------------------------------------
9442 4876 06-FLDDH-03 224.4 92 125 33 0.89
-------------------------------------------------------------------
including 94 97 3 1.55
-------------------------------------------------------------------
and 121 125 4 4.46
-------------------------------------------------------------------
8446 4842 06-FLDDH-08 258 93 126 33 1.53
-------------------------------------------------------------------
112 117 5 2.55
-------------------------------------------------------------------


Description of the drilling results

The Tiekoumala Segment trends west-northwest and dips nearly vertically. It has been intersected by delineation diamond and RC holes over a strike length of 1,000 meters. Seven of the nine holes from the Tiekoumala segment reported herein contain visible gold grains. Most of the drill holes intersected the zone above 200 vertical meters depth and the zone is open in all directions. The Foulalaba segment trends 315 degrees and dips steeply east. Each of the four holes reported herein contain visible gold grains. Drill holes have intersected the zone over a strike length of 1,100 meters and to a vertical depth of 150 meters. The zone is open along strike and down dip. The combined strike length of the Tiekoumala and Foulalaba segments is 2,100 meters.

President's report

Dr. Jon North, the President and CEO of North Atlantic Resources reported: "This set of drill holes substantially completes our drilling database above 150 meters vertical depth at FT. Although drilling will continue until the onset of the heavy rains expected in August, the initial resource calculation will use the database as at this date and we expect to have the initial resource calculation done within 2 months, which is a period of 15 months since the discovery was announced."

The drilling at FT gold project was completed by the professional staff of West African Drilling Services. The drill core samples were both HQ and NQ size and were cut in half by a diamond saw on site. Half of the core from one meter long samples was shipped to the Analabs Morila facility, and ALS Chemex, Vancouver and analyzed for gold by fire assay-AA on a 50 gram sample charge. Two meter long intervals of RC samples were split on site and sent to Analabs Morila facility and analyzed for gold by fire assay-AA on a 50 gram sample charge. The Company inserts a standard, duplicate, and blank in each batch of 20 samples analyzed to monitor laboratory accuracy and precision. The drafting was completed by Burt Consulting Services.

The Company's current land holdings consist of 1,491 square km (368,400 acres) of mineral rights in 7 gold projects in the Republic of Mali.

The technical information contained in this release and the technical work is being supervised by Jon North, Ph.D., P. Geo., who is a Qualified Person as defined by National Instrument 43-101. North Atlantic Resources Ltd. is engaged in the research, area selection, acquisition, and exploration of gold deposits in the Republic of Mali, west Africa. North Atlantic has 19,142,308 common shares issued and outstanding (21,246,058 shares on a fully diluted basis).

To view the maps please click on the following link: http://www.ccnmatthews.com/docs/namaps.pdf.

This press release has been prepared by North Atlantic Resources Ltd. and no regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • North Atlantic Resources Ltd.
    Jon North, P.Geo.
    President and CEO
    (416) 703-6348
    or
    North Atlantic Resources Ltd.
    Nathalie Roy
    Corporate Affairs
    (416) 703-6348
    info@nac-tsx.com
    www.nac-tsx.com
    or
    Please visit www.nac-tsx.com to view maps
    and more project details